Mainland firm takes advantage of Cepa (hktdc.com)

Green Futures (Hong Kong) Limited ("Green Futures (HK)"), one of the subsidiaries of Green Group Co Ltd, a leading China-based financial group, will start operations in Hong Kong after gaining approval from the Hong Kong Securities and Futures Commission.

Green Futures is one of the first Mainland futures trading companies to establish business in Hong Kong, taking advantages of the recently expanded Closer Economic Partnership Arrangement III (CEPA III). The provisions of the CEPA free trade pact between Hong Kong and Mainland China now allow for securities and futures companies from Mainland China to run businesses in Hong Kong, subject to certain criteria.

Dr Shuan-hong Wang, Chairman and President of the Green Group, said, "We feel proud and encouraged that Green Futures (HK) was among the first out of 180 futures companies in our country to be permitted to operate in Hong Kong. Our establishment in Hong Kong not only demonstrates the recognition of our strength from the Central and Hong Kong governments, but also builds up a strong platform to speed up our alignment with international markets and enhance our ability to serve more customers from around the world and accelerate our expansion into international markets."

The Director-General of Investment Promotion at Invest Hong Kong, Mike Rowse, welcomed the establishment of Green Futures in Hong Kong. "We’re delighted that Green Futures has taken advantage of the CEPA trade deal to move into the Hong Kong market and feel sure that our status as an international financial centre will benefit from the diversification that Mainland firms like Green Future bring to our city."

Green Group Co Ltd was established by Dr Shuan-hong Wang in 1993. With financial services as its core business, the Group also engages in real estate and media and advertising services. Green Futures Co Ltd, the Group’s subsidiary, is one of the first futures companies emerging in China and currently operates more than ten branches in China, including in Beijing, Shanghai, Shenzhen and Yin Chuan. It also boasts the highest registered capital for a Mainland futures company. In terms of trading volume, it currently ranks as the eighth largest in China and, since 1999, has ranked among the top four companies for six consecutive years. Source: InvestHK